Getting rich through buying land, the situation was also miserable because of the land

Rich in the land, the family lost money because of the land; The rich gather the land, the poor also try to save, borrow more to own a house, land for themselves … Question “How many years have I worked to buy a house?” Inadvertently seemingly became pressure, many cases have also appeared from here.
Rich quickly thanks to the land
The fact that you suddenly change your life and get rich overnight in land fevers is a reality that is seen, typically in the land fever in 2019. For example, Mr. Le Duan (45 years old, Thanh Tri, Ha Noi) is commented by many as having a “red number” when successfully surfing dozens of lots of land, earning tens of billions of dong. When the market somewhere had good news about infrastructure, planning …, Mr. Duan did not hesitate but immediately looked for a nice land to buy. The assets that he currently has include 3 houses for rent in Hanoi, 4 plots of land scattered in the districts and districts are all bought with profits from surfing.

Mr. Duan said that before 2019, the average time of land fever is 1-3 months, possibly up to 1 year, but after 2019, the fever is only counted by day.

Also getting rich thanks to the land but not through surfing, Mr. Thang (Ho Chi Minh City) recalls, at the end of 2014, when many people still wanted to buy Saigon land, he spent 1 billion dong to buy 4,000 square meters of agricultural land. in Nhon Trach district, Dong Nai province. By early 2020, when many infrastructure projects in Dong Nai have been and are planned to be deployed such as Ben Luc – Long Thanh Expressway, Long Thanh Airport, Bien Hoa – Vung Tau Expressway, Cat Lai Bridge .. ., land prices here increased rapidly. The price of a field land of 1,000 square meters is also between 800 million and 1 billion dong. After 6 years, Mr. Thang has nearly 4 times more profit.

nhiều tòa nhà cao tầng trong thành phố

Many tall buildings in the city
Thanks to real estate investment, many people get rich overnight, but there are also many people who have lost their fortune. Illustration

Giving advice to real estate investors, Mr. Tran Khanh Quang, General Director of Viet An Hoa Company, said that real estate follows a rule, 10 years increased 3 times. Therefore, investors investing in real estate need to define as a long-term and methodical investment, not according to the movement. Particularly in 2020 and 2021, surfing opportunities are said to be no longer available, even for short-term investment, if investors want to participate, they need to consider.

Money lost, disabled also because of the land
In addition to the people who soon became giants through real estate trading like Mr. Duan, Mr. Thang also had many people who lost their homes and lost their land due to land. Only a few ghost projects were exposed by the authorities, the number of victims who lost money reached thousands.

As a victim of Alibaba, Mr. Le Van V. recounted that after they got married, they were bought by their parents for a small house. In mid-2018, when his friend was introduced to the Alibaba project, Mr. V. researched on the internet, then attended the lectures of this company. At home, Mr. V. discussed with his wife to bring home the red book to mortgage to take the money to invest. After 3 months, the Alibaba side committed to Mr. V. that he would pay the profit commitment once, so Mr. V. invested in another land. After that, before receiving the second profit, the company was exposed to fraud. Mr. V. has contributed 1.2 billion VND to this company. As a worker, the life was not too abundant, but had to carry more bank debts, causing the couple to fall into misery, having to ask relatives and relatives for help.

Similarly, Ms. Nguyen Thi Ngoc Phuong also lost nearly 1.3 billion VND when buying a land lot larger than 50m2 of a ghost project in Tan Tao ward of Angel Lina Company. After paying the money and discovering that the land she bought was a regulated lake and not issued a book, Ms. Phuong went to the company’s headquarters to get money back when a group of tattooed people threatened.

Besides people who have a lot of money to gather and buy and invest in real estate, it is not a strange thing for people who do not have much money to try to borrow money to buy real estate. One of the reasons is also because the Vietnamese have the concept that there must be an inch of soil, only people give birth, but the land does not generate itself. The rich increase the amount of real estate they own for the purpose of making a profit, so that money can make money. Meanwhile, lower income people are trying to buy houses and real estate to settle down or hope to change their lives. This concept, the question “How many years have you been able to buy a house?” Inadvertently seemingly became pressure, many cases have also appeared from here.

Not only for residential buyers, with investors, especially new investors entering the market with the thought that buying land will never lose money, real estate expert Dinh The Hien once advised that investors lack of expertise, lack of money, so I accept that I am a fool, and listen to lots of information from many sides. Some “tips” that buyers need to equip to avoid “lost money” such as: careful legal research of the project, checking a bank mortgage, choosing a reputable investor, surveying the actual project Do not take too much advertising, carefully check the transaction contract, negotiate unfavorable terms …